The Marzetti Company (NASDAQ:MZTI) Declares Quarterly Dividend of $1.00

The Marzetti Company (NASDAQ:MZTI) declared a quarterly dividend on Wednesday, February 11th, NASDAQ Dividends reports. Investors of record on Friday, March 6th will be paid a dividend of 1.00 per share on Tuesday, March 31st. This represents a c) dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, March 6th.

Marzetti has increased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 62 years. Marzetti has a dividend payout ratio of 56.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Marzetti to earn $7.31 per share next year, which means the company should continue to be able to cover its $4.00 annual dividend with an expected future payout ratio of 54.7%.

Marzetti Stock Performance

Shares of NASDAQ MZTI opened at $166.32 on Wednesday. The company has a market cap of $4.56 billion, a P/E ratio of 25.47 and a beta of 0.40. Marzetti has a 52-week low of $152.17 and a 52-week high of $195.62. The firm’s fifty day moving average is $164.49 and its two-hundred day moving average is $169.09.

Marzetti (NASDAQ:MZTI) last released its quarterly earnings data on Tuesday, February 3rd. The company reported $2.15 EPS for the quarter, missing the consensus estimate of $2.23 by ($0.08). Marzetti had a net margin of 9.25% and a return on equity of 18.55%. The company had revenue of $509.77 million for the quarter. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. As a group, analysts forecast that Marzetti will post 6.8 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Wall Street Zen cut Marzetti from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Weiss Ratings reissued a “hold (c)” rating on shares of Marzetti in a report on Friday, January 9th. Stephens decreased their price target on shares of Marzetti from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 4th. Finally, DA Davidson reiterated a “neutral” rating and set a $184.00 price objective on shares of Marzetti in a research report on Wednesday, February 4th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $188.00.

About Marzetti

Lancaster Colony Corporation engages in the manufacturing and marketing of specialty food products for the retail and foodservice channels in the United States. It operates in two segments, Retail and Foodservice. The company offers frozen garlic bread under the New York BRAND Bakery; frozen Parkerhouse style yeast and dinner rolls under the Sister Schubert's brand; salad dressings under the Marzetti, Simply Dressed, Cardini's, and Girard's brands; vegetable and fruit dips under the Marzetti brand; croutons and salad toppings under the New York BRAND Bakery, Chatham Village, and Marzetti brands; and frozen pasta under the Marzetti Frozen Pasta brand.